Ethical Talent International Ltd 14356500 false 2022-09-14 2023-12-31 2023-12-31 The principal activity of the company is that of Other activities of employment placement agencies Digita Accounts Production Advanced 6.30.9574.0 true 14356500 2022-09-14 2023-12-31 14356500 2023-12-31 14356500 core:CurrentFinancialInstruments 2023-12-31 14356500 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 14356500 core:OfficeEquipment 2023-12-31 14356500 bus:SmallEntities 2022-09-14 2023-12-31 14356500 bus:AuditExemptWithAccountantsReport 2022-09-14 2023-12-31 14356500 bus:FullAccounts 2022-09-14 2023-12-31 14356500 bus:SmallCompaniesRegimeForAccounts 2022-09-14 2023-12-31 14356500 bus:RegisteredOffice 2022-09-14 2023-12-31 14356500 bus:Director1 2022-09-14 2023-12-31 14356500 bus:PrivateLimitedCompanyLtd 2022-09-14 2023-12-31 14356500 core:ComputerEquipment 2022-09-14 2023-12-31 14356500 core:OfficeEquipment 2022-09-14 2023-12-31 14356500 countries:EnglandWales 2022-09-14 2023-12-31 iso4217:GBP xbrli:pure

Registration number: 14356500

Ethical Talent International Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Period from 14 September 2022 to 31 December 2023

 

Ethical Talent International Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Ethical Talent International Ltd

Company Information

Director

Mrs Nicola Helen Hyden

Registered office

85 Great Portland Street
London
W1W 7LT

Accountants

GMR Accountants Ltd
1st Floor
8/12 London Street
Southport
Merseyside
PR9 0UE

 

Ethical Talent International Ltd

(Registration number: 14356500)
Balance Sheet as at 31 December 2023

Note

2023
£

Fixed assets

 

Tangible assets

4

1,285

Current assets

 

Debtors

5

560

Cash at bank and in hand

 

112,782

 

113,342

Creditors: Amounts falling due within one year

6

(45,406)

Net current assets

 

67,936

Net assets

 

69,221

Capital and reserves

 

Called up share capital

1

Retained earnings

69,220

Shareholders' funds

 

69,221

For the financial period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 19 February 2024
 

.........................................
Mrs Nicola Helen Hyden
Director

 

Ethical Talent International Ltd

Notes to the Unaudited Financial Statements for the Period from 14 September 2022 to 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
85 Great Portland Street
London
W1W 7LT

These financial statements were authorised for issue by the director on 19 February 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Ethical Talent International Ltd

Notes to the Unaudited Financial Statements for the Period from 14 September 2022 to 31 December 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

Straight Line 25%

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Ethical Talent International Ltd

Notes to the Unaudited Financial Statements for the Period from 14 September 2022 to 31 December 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

 

Ethical Talent International Ltd

Notes to the Unaudited Financial Statements for the Period from 14 September 2022 to 31 December 2023

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

Additions

1,521

1,521

At 31 December 2023

1,521

1,521

Depreciation

Charge for the period

236

236

At 31 December 2023

236

236

Carrying amount

At 31 December 2023

1,285

1,285

5

Debtors

Current

2023
£

Prepayments

560

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

Due within one year

 

Loans and overdrafts

7

8,129

Taxation and social security

 

6,177

Accruals and deferred income

 

348

Other creditors

 

30,752

 

45,406

7

Loans and borrowings

2023
£

Current loans and borrowings

Other borrowings

8,129

 

Ethical Talent International Ltd

Notes to the Unaudited Financial Statements for the Period from 14 September 2022 to 31 December 2023

8

Related party transactions

Director's remuneration

The director's remuneration for the period was as follows:

2023
£

Remuneration

9,405

Contributions paid to money purchase schemes

10,000

19,405